HONG KONG, July 14, 2016 /PRNewswire/ -- Sansiri Public Company Limited, Thailand's property leader and the country's only fully integrated property developer, successfully closed the sales of "THE LINE Asoke-Ratchada" freehold condominium on all 473 units valued at USD 82.39 million (THB 2.9 billion). The first joint-venture project between Sansiri and the BTS Group under THE LINE brand this year, managed to sell out completely within its two days of domestic pre-sales in Bangkok. This success marks the highest-ever presales value generated from foreign sales, with a value over USD 37 million (THB 1.3 billion) from four markets includes Hong Kong, Singapore, Taiwan and Mainland China. The overseas activities and events attracted over 1,000 enthusiastic visitors, which broke the previous records set at all three Sansiri-BTS joint project launches last year. This phenomenal result reconfirms the huge potential of the Asoke-Ratchada location and is also a testament to an expanded customer base that values this key city location.
THE LINE Asoke-Ratchada condominium is Sansiri's first project in the Asoke-Ratchada area, and was greeted with success immediately at the project launch through great customer response based on the confidence in the quality of the brand that has been a leader in condominium developments throughout the past 32 years. In addition, the outstanding success is also due to the site's ideal location just 300 metres from the MRT Underground's Rama 9 station under the project's concept of "Balance is Everything, Location is Everything." The price per square metre of this project is considered to be the highest in this area due to its many notable attributes, discerning features, rising value of the surrounding area and the value of the project itself.
Mr. Uthai Uthaisangsuk, Senior Executive Vice President -- Business Development and Project Development Division (High Rise), Sansiri Public Company Limited, revealed that "This popular area serves as a strategic transportation link to the other CBDs of Bangkok with a superb location only 300 metres from MRT 'Rama 9' station, other key transportation links and is close to entrances and exits of Expressways. From an investment perspective, whether you're buying properties in this area for renting out or for long-term ownership, they are likely to give high, tangible returns. Besides, the location is considered to be very attractive due to the residential needs of both Thais and foreigners who have to relocate to their new places of work. Currently, more Chinese and Japanese are beginning to be attracted to this area."
These factors will serve well for the urbanites' quest for a balanced lifestyle in combination of being within walking distance to the "New CBD" that will be an extension of Bangkok's existing central business districts served due to its convenient transport connections. This is in addition to the business potential of the area that extends from Phetchaburi Intersection to the Thailand Cultural Centre Intersection that is expected to see tremendous growth because of its proximity to the central business districts and expressway access. In addition, it is located near Makkasan Park, considered to be another lung of Bangkok. Capital gains for residential condominiums in the Ratchadapisek-Rama 9 area within the 500-metre radius of a mass transit station range between 6-10% per year, while rental yields range between 6-7% annually.
The customers at THE LINE Asoke-Ratchada are impressed with the attention to details and the functions that answer real working-lifestyle needs by incorporating the smart home automation system that will control all electrical on-off switches, air-conditioners and the digital door lock. These prominent features will tremendously increase the convenience of a hectic life.
All of those aspects served to attract keen interest from both Thais and foreigners as seen from the response at the roadshows in Hong Kong, Singapore, Taiwan and Mainland China with over USD 37 million (THB 1.3 billion) in sales -- the highest ever achieved by Sansiri from foreign sales to-date and well above the target set for foreign sales. The Company expects to follow up this success with new location launches of condominiums under THE LINE brand in the near future.
"For every condominium project under the Sansiri brand, the company is very meticulous in choosing locations that are deemed to be the most suitable for residential developments. Also, our projects are designed out-of-the-box from a different perspective as well as the careful selection of materials, and the partnership agreements to develop projects with the highest quality. Our determination is evident in the sales success phenomenon of THE LINE Asoke-Ratchada. It is also considered to be the project with the highest price per square metre in this area. Due to its individuality, distinctiveness and value of the project, full confidence from customers speaks of the remarkable sales success," Mr. Uthai concluded.
THE LINE Asoke–Ratchada is a freehold high-rise condominium with a net value of USD 82.39 million (THB 2.9 billion) situated on a 0.9 acre plot of land on Asoke–Din Daeng Road. The project comprises one 38-storey residential building and one 9-storey parking building with a basement. There are 473 units in the project. Unit sizes range from 296 sq. ft. for a 1-bedroom unit to 540 sq. ft. for a 2-bedroom unit. Its concept of 'Balance is everything. Location is everything,' represents the equilibrium between life in and outside of work that is only achievable if you live close to work and don't have to spend hours in traffic.
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| Sansiri PLC |
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| Kamonwan Prasitwuttivech (Joy) / Jirapha Rachasuthee (May) |
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| Tel: |
+6681-750-8003 / +6680-268-8228 |
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